S&P Global, the financial data giant behind the S&P 500, has launched its first index combining cryptocurrencies and cryptocurrency-related stocks, the company announced Tuesday.
The S&P Digital Markets 50 index will track 15 major cryptocurrencies and 35 stocks of companies related to blockchain and digital assets.
This new product is designed to meet growing institutional and retail demand for diversified and regulated exposure to the cryptocurrency ecosystem.
Cameron Drinkwater, chief product officer at S&P Dow Jones Indices, said digital assets have gone "from the margins into a more established role in global markets" and are now being used by investors around the world to diversify and grow.
The index will be governed by S&P's strict rules-based methodology, which includes a 5% cap on any individual asset and minimum market capitalization requirements, representing a new level of maturity for the sector.